NewGen Technologies, Inc. (OTC BB: NWGN), through its U.S. subsidiary, ReFuel America, today announced plans to build a new biodiesel plant in Fairfield, Iowa. The facility, with an estimated capacity of 60 million gallons, will be developed by the company’s previously announced joint venture with PowerSHIFT Energy and be called PowerSHIFT BioFuels of Iowa.

“The demand for biofuels has grown dramatically in recent years, and ReFuel America is perfectly positioned to meet this important need. Working with PowerSHIFT, we have the opportunity to bring our proprietary technologies to the people of Iowa and the rest of the Midwest. We look forward to producing, blending, and distributing our advanced, high-performing biofuels in the near future,” said S. Bruce Wunner, Chairman and CEO of NewGen.

The members of the joint venture will hold a media briefing today, February 24th, at 10 a.m. Central Standard Time. As part of this event, PowerSHIFT will lead a town hall style community meeting to introduce the project to the greater Fairfield community.

“The development of this Iowa biodiesel facility is a dream come true for us,” said Dan Leach, President and CEO of PowerSHIFT Energy Company and CEO of PowerSHIFT BioFuels of Iowa. “We owe a debt of gratitude to Bob Phipps, Mayor Ed Malloy and many others in the Fairfield area who have paved the way for our company’s biofuel project.”

The completion of this project is subject to obtaining adequate financing and governmental permits/licenses, as applicable.

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